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We Was Right! (darling Almost Had To Shut The Atm's Last Oct)

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Zero preparedness.

You'd have thought they would have learned, but obviously not, and still haven't. How do they stop a run or a dash for the exits on the country?

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Zero preparedness.

You'd have thought they would have learned, but obviously not, and still haven't. How do they stop a run or a dash for the exits on the country?

I don't know, but I would imagine it is fairly straightforward to suspend/restrict electronic transfers/clearing for business and personal transactions and shut down/restrict cash machine withdrawals. That accounts for nearly all the 'money' in the economy. I think it is reasonable to assume they have some sort of disaster plans for this eventuality.

The consequences flowing from it however are almost unimaginable.

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Guest The Relaxation Suite
The consequences flowing from it however are almost unimaginable.

Total panic and anarchy within 48 hours.

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Total panic and anarchy within 48 hours.

yep, it will be like Christmas for a week. I mean the shopping that is....total panic to stock up for two days of shops closed...this will be for much longer..

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"An unprecedented £20bn was pumped into RBS, and its chief executive, Sir Fred Goodwin, was ousted, "

Was that just his penson? :lol:

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i thought the article meant rbs and halifax atms shut down?

panic, certainly, but not quite social meltdown as only their accountholders wouldve been afffected

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More to the point how long did they know RBS, Halifax where in trouble?

I find it hard to believe that it was for only a few days or weeks previous.

Agreed, although probably there was a bit of desperate hopefullness "maybe it will all be ok".

After all, if someone asks for RBS's last £1 that's not a problem. It's only if/when they ask for another that RBS are sunk.

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More to the point how long did they know RBS, Halifax where in trouble?

I find it hard to believe that it was for only a few days or weeks previous.

they werent in trouble because their mark to model assets values showed them to be solvent.

I guess cash flow ( reality) got them then and all was revealed. also, lenders stopped propping them up. that would have made their eyes water.

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yep, it will be like Christmas for a week. I mean the shopping that is....total panic to stock up for two days of shops closed...this will be for much longer..

Gold buyers been stocking up for this for a long while.

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panic, certainly, but not quite social meltdown as only their accountholders wouldve been afffected

From my own observations it certainly appears that most people live week to week.

Personally my wife and I withdrew all our savings when we saw the bank run at Northern Rock even though we are in Australia.

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i thought the article meant rbs and halifax atms shut down?

panic, certainly, but not quite social meltdown as only their accountholders wouldve been afffected

I think if some banks and ATMs were shut down, panic would spread to all banks.

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I think if some banks and ATMs were shut down, panic would spread to all banks.

Exactly...massive banks shut down ATM`s ?...then it`s natural people would be scared about their money in any bank...it`s a simple domino effect..

Panic ensues and chaos everywhere...banks,shops,petrol stations,fights would break out....people wanting fuel to get to work (nurses..police...essential workers etc) but do not have their visa cards working..??? wouldnt take five minutes for utter chaos..

Edited by tiggerthetiger

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We Was Right!

Not with grammar like that dear boy! - Atrocious!!

Personally my wife and I withdrew all our savings when we saw the bank run at Northern Rock even though we are in Australia.

I'm intrigued.

........................................

Edited by Laura

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assuming RBS did go bust, what would have happened to all their mortgage holders?

The mortgages would have been sold by the recievers to other lenders,or collected by the recievers themselfs.

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Exactly...massive banks shut down ATM`s ?...then it`s natural people would be scared about their money in any bank...it`s a simple domino effect..

Panic ensues and chaos everywhere...banks,shops,petrol stations,fights would break out....people wanting fuel to get to work (nurses..police...essential workers etc) but do not have their visa cards working..??? wouldnt take five minutes for utter chaos..

Agree entirely........

The Blitz spirit is long gone and for anyone who doubts it remind yourself of how people reacted over a few days of fuel and water shortages in the last few years..........that would be as nothing compared with the cashpoints coming down............

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I think if some banks and ATMs were shut down, panic would spread to all banks.

True. Everyone was on tenterhooks back then as I recall, with the collapse of NRK, Lehmans and the stock markets, it felt like anything was possible.

Happy days. :lol:

How dreary it is now they've made us all pay for the mess with our future earnings.

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